Re: [CANSLIM] AAII letter to the editor

From: "Gene Ricci" <genr@swbell.net>
Subject: Re: [CANSLIM] AAII letter to the editor
Date: Sun, 13 Jul 2003 21:31:31 -0500
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  ----- Original Message -----=20
  From: John Solarno=20
  To: canslim@lists.xmission.com=20
  Sent: Sunday, July 13, 2003 8:40 PM
  Subject: [CANSLIM] AAII letter to the editor


  I just received my July copy of the AAII Journal (published by the =
American
  Association of Individual Investors.)  In the letter to the editor =
section,
  there is a blistering objection to an article in the June issue by =
William
  O'Neill called "The Big Picture: How to Determine the Stock Market's
  Direction."

  The letter, written by a Jon A. Ford, says that O'Neil acknowledged, =
in his
  June article, that the bear market began in March of 2000. "What he =
doesn't
  say," writes Ford, "is that his Investor's Business Daily failed to =
notify
  investors that it was time to go into cash until February 13, 2003 - =
long
  after a large chunk of investment savings had gone up in smoke.

  "O'Neil's 'cut your losses at 7% rule' did not help," Ford continues,
  "because for almost the entire duration of the bear market, the
  encouragement was to continue buying newly identified stocks with sale
  proceeds. This effectively sets up a series of 7% to 8% stock market
  losses."

  Ford reminds readers that "as good as CANSLIM and related O'Neil media =
may
  be, the bottom line is for people to buy and sell stocks - and surpass
  others- but using O'Neil and company's merchandise."

  "Finally, after three years and 25% to 35% or more annual =
deterioration in
  investors' stock portfolios," says Ford, "Investor's Business Daily =
finally
  advised readers to go to cash - a recommendation that, if acted upon, =
would
  have effectively crystallized losses and kept investors from =
participating
  in the market increases only a month later."

  Ouch! =20

  I thought I'd throw this out to the group for comment.

  John Solarno





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<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Dworkvirt@workvirtual.com =
href=3D"mailto:workvirt@workvirtual.com">John=20
  Solarno</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
  =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, July 13, 2003 =
8:40 PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] AAII letter =
to the=20
  editor</DIV>
  <DIV><BR></DIV>I just received my July copy of the AAII Journal =
(published by=20
  the American<BR>Association of Individual Investors.)&nbsp; In the =
letter to=20
  the editor section,<BR>there is a blistering objection to an article =
in the=20
  June issue by William<BR>O'Neill called "The Big Picture: How to =
Determine the=20
  Stock Market's<BR>Direction."<BR><BR>The letter, written by a Jon A. =
Ford,=20
  says that O'Neil acknowledged, in his<BR>June article, that the bear =
market=20
  began in March of 2000. "What he doesn't<BR>say," writes Ford, "is =
that his=20
  Investor's Business Daily failed to notify<BR>investors that it was =
time to go=20
  into cash until February 13, 2003 - long<BR>after a large chunk of =
investment=20
  savings had gone up in smoke.<BR><BR>"O'Neil's 'cut your losses at 7% =
rule'=20
  did not help," Ford continues,<BR>"because for almost the entire =
duration of=20
  the bear market, the<BR>encouragement was to continue buying newly =
identified=20
  stocks with sale<BR>proceeds. This effectively sets up a series of 7% =
to 8%=20
  stock market<BR>losses."<BR><BR>Ford reminds readers that "as good as =
CANSLIM=20
  and related O'Neil media may<BR>be, the bottom line is for people to =
buy and=20
  sell stocks - and surpass<BR>others- but using O'Neil and company's=20
  merchandise."<BR><BR>"Finally, after three years and 25% to 35% or =
more annual=20
  deterioration in<BR>investors' stock portfolios," says Ford, =
"Investor's=20
  Business Daily finally<BR>advised readers to go to cash - a =
recommendation=20
  that, if acted upon, would<BR>have effectively crystallized losses and =
kept=20
  investors from participating<BR>in the market increases only a month=20
  later."<BR><BR>Ouch!&nbsp; <BR><BR>I thought I'd throw this out to the =
group=20
  for comment.<BR><BR>John Solarno<BR><BR><BR><BR><BR><BR>-<BR>-To=20
  subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email =
body,=20
  write "subscribe canslim" or<BR>-"unsubscribe canslim".&nbsp; Do not =
use=20
  quotes in your email.<BR></BLOCKQUOTE></BODY></HTML>

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